Following the announcement of its inclusion on Coinbase, the native token of the Ronin Network, RON, experienced a significant surge of over 10%. The RON token rose by 11% to reach a peak of $4.12 on March 21, coinciding with its addition to Coinbase’s listing. The decision to list RON on Coinbase comes amidst a period of heightened activity within the Ronin Network, with active addresses witnessing a remarkable surge of over 500% since February, surpassing previous peaks observed during the Axie Infinity frenzy in 2021.
Established in early 2021 by Sky Mavis, the Ronin Network functions as a specialized blockchain tailored for on-chain play-to-earn activities. The network has introduced a range of web3 games, including popular titles like Axie Infinity, Pixels, and Wild Forest, enabling players to earn cryptocurrencies and non-fungible tokens (NFTs) through on-chain interactions.
Eliza Crichton-Stuart, head of operations at GAM3S.GG, emphasized that the recent uptick in on-chain activity on Ronin may be attributed to increased engagement across multiple games, particularly Pixels. This game, reminiscent of classic farming simulations such as Harvest Moon and Stardew Valley, incorporates a crypto token economy alongside NFT-based land plots and pets. Originally developed on the Polygon network, Pixels made the transition to the Ronin Network last autumn, significantly boosting the platform’s adoption. As previously reported by crypto.news, this migration resulted in a substantial surge in daily active users on Ronin, which surged from approximately 20,000 last autumn.